Sunstream Green Energy Private Limited has secured refinancing of its Rs 7 billion loan from the State Bank of India (SBI). The refinancing is for the company’s fully operational 225 MW solar portfolio. The power from the portfolio is supplied to Maharashtra State Electricity Distribution Company Limited under long term offtake arrangement.
The portfolio has been developed in over three years and is spread across17 sites in the state of Maharashtra. Furthermore, the refinancing will allow around 125 bps of annualised interest cost reduction. This reduction will lead to improvement in free cash flow and strengthen the long-term capital structure of the solar platform.
Sunstream Green Energy, is an independent power producer developing a portfolio of over 1 GW renewable energy assets across utility-scale solar, wind-solar hybrid, and decentralised solar solutions. The company is backed by a marquee Singapore based family office.
